The Manufacturers Life Insurance Company Sells 105,931 Shares of CSX Co. (NASDAQ:CSX)

The Manufacturers Life Insurance Company lowered its position in CSX Co. (NASDAQ:CSX - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,573,574 shares of the transportation company's stock after selling 105,931 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of CSX worth $83,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Optiver Holding B.V. raised its position in shares of CSX by 737.9% in the 4th quarter. Optiver Holding B.V. now owns 3,821 shares of the transportation company's stock worth $123,000 after purchasing an additional 3,365 shares during the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in CSX in the fourth quarter valued at about $27,000. Quarry LP boosted its holdings in shares of CSX by 413.3% in the fourth quarter. Quarry LP now owns 4,425 shares of the transportation company's stock worth $143,000 after buying an additional 3,563 shares during the last quarter. Rinkey Investments purchased a new position in shares of CSX during the 4th quarter worth $215,000. Finally, Boothbay Fund Management LLC grew its holdings in CSX by 7,390.3% during the fourth quarter. Boothbay Fund Management LLC now owns 509,113 shares of the transportation company's stock valued at $16,429,000 after purchasing an additional 502,316 shares during the period. Hedge funds and other institutional investors own 73.57% of the company's stock.

CSX Stock Up 0.6 %

CSX stock opened at $28.05 on Wednesday. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The business has a fifty day moving average price of $29.34 and a 200-day moving average price of $32.18. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $52.69 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. CSX's dividend payout ratio is presently 31.14%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSX. Wells Fargo & Company dropped their price objective on CSX from $31.00 to $28.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Argus set a $32.00 target price on CSX in a report on Friday. Stephens reiterated an "overweight" rating and set a $38.00 price target on shares of CSX in a report on Friday, January 24th. Royal Bank of Canada cut their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of CSX from $38.00 to $37.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, CSX currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.86.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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